BitPay offers incentive for global merchants

October 4, 2013

BitPay, a payment service provider specializing in e-commerce, B2B and enterprise solutions for virtual currencies, is now offering translations into 10 languages plus English for its entire checkout experience.

Merchants servicing international customers can now present bitcoin payment instructions in the buyer’s native language, allowing merchants to more easily conduct business in emerging markets.

Recently at the European Bitcoin Conference in Amsterdam, BitPay co-founder and CEO Tony Gallippi announced that the company is actively hiring sales engineers, a director of marketing and software developers for its new offices in Amsterdam and Montreal.

“The European market for bitcoin adoption is very large, perhaps larger than in the United States,” says Gallippi. “Nearly every European business can already deal in multiple currencies, a prerequisite which is rarely seen in the U.S. Many small businesses in Europe have frequent cross-border transactions to Eastern Europe, the Middle East, and North Africa where a borderless payment system like bitcoin has great potential.”

In addition to the translations, the company has expanded its list of currencies in which merchants can set prices for their sales. The new additions include the Argentine Peso (ARS), and Gold and Silver troy ounce (XAU and XAG). For example, if a gold dealer wants to sell one ounce of gold at 5% over spot, they can set the price to 1.05 XAU and BitPay will calculate the checkout in bitcoins at the up-to-the-minute rate.

The exchange rates are based on BitPay’s Bitcoin Best Bid (BBB) rate calculation, which creates a Consolidated Level II market depth across multiple exchanges with zero commission fees, and updates every 1-2 minutes. Buyers will always get more purchasing power by spending their bitcoins at a BitPay merchant rather than selling their bitcoins on an exchange.

BitPay is a sponsor of the CryptoCurrency Conference in Atlanta on October 4-5. Both BitPay co-founders Tony Gallippi and Stephen Pair will be speaking at the event on Saturday, October 5.

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